RAI Integrates with Avalanche to Expand Cross-Chain Asset Trading
Integration to AVAX will widen the assets and applications available to RAI users.
RAI Finance, a cross-chain trading protocol, is integrating with Avalanche to expand its platform's cross-chain trading capabilities. The integration, which is expected to be completed in Q2 2021, will enable its users to access assets on Avalanche through the connection of cross-chain asset bridges and Substrate parallel chains.
RAI will also provide developers building on Avalanche more flexibility and infrastructure for applications that require assets to move across other public blockchain networks like Polkadot.
“Avalanche has achieved remarkable success in ecosystem development and community growth, and the release of the two-way bridge on Ethereum has given us more imagination about Avalanche bearing large-scale DeFi asset transferring,” says Keonho Lee, CEO of RAI Finance.
Smart contract activity on the platform has boomed since the Avalanche-Ethereum Bridge (AEB) launch on February 8. In that time, smart contract transactions have increased by 1,642% to over 945,000, and unique wallets increased by 2,675 % to over 59,000.
“Decentralized Finance is rapidly growing, and RAI Finance’s cross-chain trading protocol will improve asset fluidity across all ecosystems it supports, including Avalanche and Polkadot. We are excited to integrate with Avalanche, to make our products and services even better for users, and accelerating the development of innovation across Decentralized Finance,” continued Lee.
Avalanche is an open-source platform for launching highly decentralized applications, new financial primitives, and new interoperable blockchains. Avalanche democratizes financial markets and bridges all blockchain platforms together into one interoperable ecosystem. It’s established to help build your own custom blockchains or digitize any assets with arbitrarily complex rulesets.
Avalanche uses a path-breaking consensus agreement framework and a smart contract platform to confirm deals within one second. It supports the full content of the Ethereum development kit and makes millions of complete block producers possible.